Solidarity Wealth LLC Has $648,000 Stock Position in Deere & Company (NYSE:DE)

Solidarity Wealth LLC cut its stake in Deere & Company (NYSE:DE) by 74.2% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 1,524 shares of the industrial products company’s stock after selling 4,390 shares during the quarter. Solidarity Wealth LLC’s holdings in Deere & Company were worth $648,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of DE. Everence Capital Management Inc. grew its position in Deere & Company by 148.3% during the 4th quarter. Everence Capital Management Inc. now owns 12,223 shares of the industrial products company’s stock worth $5,179,000 after acquiring an additional 7,300 shares during the last quarter. Stockbridge Partners LLC grew its holdings in shares of Deere & Company by 157.5% during the third quarter. Stockbridge Partners LLC now owns 884,237 shares of the industrial products company’s stock worth $369,019,000 after purchasing an additional 540,874 shares during the last quarter. Toronto Dominion Bank increased its stake in shares of Deere & Company by 1.5% in the third quarter. Toronto Dominion Bank now owns 86,952 shares of the industrial products company’s stock valued at $36,288,000 after buying an additional 1,291 shares in the last quarter. Chase Investment Counsel Corp raised its holdings in shares of Deere & Company by 53.8% in the third quarter. Chase Investment Counsel Corp now owns 4,000 shares of the industrial products company’s stock valued at $1,669,000 after buying an additional 1,400 shares during the last quarter. Finally, Czech National Bank lifted its position in Deere & Company by 5.7% during the 4th quarter. Czech National Bank now owns 55,170 shares of the industrial products company’s stock worth $23,376,000 after buying an additional 2,964 shares in the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on DE. Morgan Stanley raised their price objective on shares of Deere & Company from $401.00 to $450.00 and gave the company an “overweight” rating in a research report on Monday, November 25th. Truist Financial lifted their target price on Deere & Company from $538.00 to $550.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Citigroup decreased their price target on Deere & Company from $470.00 to $430.00 and set a “neutral” rating on the stock in a report on Tuesday, January 14th. JPMorgan Chase & Co. boosted their price objective on Deere & Company from $450.00 to $470.00 and gave the stock a “neutral” rating in a report on Wednesday, January 15th. Finally, Oppenheimer boosted their price target on shares of Deere & Company from $448.00 to $477.00 and gave the stock an “outperform” rating in a research note on Friday, November 22nd. Eleven analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, Deere & Company has an average rating of “Hold” and a consensus target price of $442.83.

Deere & Company Stock Up 4.0 %

Deere & Company stock opened at $456.57 on Tuesday. The company has a quick ratio of 1.90, a current ratio of 2.09 and a debt-to-equity ratio of 1.89. The stock has a market capitalization of $124.35 billion, a PE ratio of 17.83, a price-to-earnings-growth ratio of 2.81 and a beta of 0.98. Deere & Company has a twelve month low of $340.20 and a twelve month high of $469.39. The company has a 50 day moving average of $431.48 and a 200-day moving average of $402.53.

Deere & Company (NYSE:DE) last announced its earnings results on Thursday, November 21st. The industrial products company reported $4.55 EPS for the quarter, topping the consensus estimate of $3.89 by $0.66. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. The business had revenue of $9.28 billion during the quarter, compared to analysts’ expectations of $9.20 billion. During the same quarter in the prior year, the company posted $8.26 earnings per share. The firm’s revenue was down 32.8% on a year-over-year basis. On average, equities research analysts anticipate that Deere & Company will post 19.34 EPS for the current fiscal year.

Deere & Company Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 10th. Investors of record on Tuesday, December 31st will be issued a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 1.42%. The ex-dividend date is Tuesday, December 31st. This is a positive change from Deere & Company’s previous quarterly dividend of $1.47. Deere & Company’s dividend payout ratio is presently 25.31%.

Deere & Company Profile

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.